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December 31, 2025

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Sankamap Provides an Update on Status of Late Filing of Financial Statements

Investing 6 Mins Read

Sankamap Metals Inc. (CSE: SCU) (‘Sankamap’ or the ‘Company’) the Company and its auditor continue to work diligently toward the completion and filing of the Company’s annual audited financial statements and management’s discussion and analysis for the fiscal year ended June 30, 2025 (the ‘Required Filings’). The Company has applied to the Alberta Securities Commission for an extension of the Management Cease Trade Order (‘MCTO’), however, there can be no assurance that a further extension will be granted. The additional delay in completing the Required Filings is primarily due to the auditor awaiting the receipt of certain required information from government authorities in Solomon Islands, as well as timing constraints associated with the holiday period. The Company estimates that approximately 90% of the audit work has been completed.

The Required Filings were due to be filed by October 28, 2025. In connection with the anticipated delays in making the Required Filings, the Company made an application for a Management Cease Trade Order (‘MCTO‘) under National Policy 12-203 Management Cease Trade Orders (‘NP 12-203‘) to the Alberta Securities Commission, as principal regulator for the Company, and the MCTO was issued on October 29, 2025. The MCTO restricts all trading by the Company’s CEO and CFO in securities of the Company, whether direct or indirect. The MCTO does not affect the ability of persons who are not directors, officers or insiders of the Company to trade their securities. The MCTO will remain in effect until the Required Filings are filed or until it is revoked or varied.

The Company expects to proceed with the filing of its interim first-quarter financial statements shortly after the Required Filings have been completed and submitted.

The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 by issuing bi-weekly default status reports in the form of a news release until it meets the Required Filings requirement. The Company has not taken any steps towards any insolvency proceeding and the Company has no material information relating to its affairs that has not been generally disclosed.

For further information with respect to the MCTO, please refer to the Company’s news releases dated October 21, 2025, November 4, 2025, November 18, 2025, December 3, 2025 and December 17, 2025, available for viewing on the Company’s SEDAR+ profile at www.sedarplus.ca.

About Sankamap Metals Inc.

Sankamap Metals Inc. (CSE: SCU) is a Canadian mineral exploration company dedicated to the discovery and development of high-grade copper and gold deposits through its flagship Oceania Project, located in the South Pacific. The Company’s fully permitted assets are strategically positioned in the Solomon Islands, along a prolific geological trend that hosts major copper-gold deposits; including Newcrest’s Lihir Mine, with a resource of 71.9 million ounces of gold¹ (310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred).

Exploration is actively advancing at both the Kuma and Fauro properties, part of Sankamap’s Oceania Project in the Solomon Islands. Historical work has already highlighted the mineral potential of both sites, which lie along a highly prospective copper and gold-bearing trend, suggesting the possibility of further, yet-to-be-discovered deposits.

At Kuma, the property is believed to host an underexplored and largely untested porphyry copper-gold (Cu-Au) system. Historical rock chip sampling has returned consistently elevated gold values above 0.5 g/t Au, including a standout sample assaying 11.7% Cu and 13.5 g/t Au2; underscoring the area’s significant potential.

At Fauro, particularly at the Meriguna Target, historical trenching has returned highly encouraging results, including 8.0 meters at 27.95 g/t Au and 14.0 meters at 8.94 g/t Au3. Complementing these results are exceptional grab sample assays, including historical values of up to 173 g/t Au3, along with recent sampling by Sankamap at the Kiovakase Target, which returned numerous high-grade copper values, reaching up to 4.09% Cu. In addition, limited historical shallow drilling intersected 35.0 meters at 2.08 g/t Au3, further underscoring the property’s strong mineral potential and the merit for continued exploration. With a commitment to systematic exploration and a team of experienced professionals, Sankamap aims to unlock the untapped potential of underexplored regions and create substantial value for its shareholders. For more information, please refer to SEDAR+ (www.sedarplus.ca), under Sankamap’s profile.

1.Newcrest Technical Report, 2020 (Lihir: 310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred)

2. Historical grab, soil and BLEG samples from SolGold Kuma Review June 2015, and SolGold plc Annual Report 2013/2012

3. September 2010-June 2012 press releases from Solomon Gold Ltd. and SolGold Fauro Island Summary Technical Info 2012

QP Disclosure

The technical content for the Oceania Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person in accordance with CIM guidelines. Mr. John Florek is in good standing with the Professional Geoscientists of Ontario (Member ID:1228) and a director and officer of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ ‘John Florek’
John Florek, M.Sc., P.Geol
Chief Executive Officer
Sankamap Metals Inc.

Contact:
John Florek, CEO
T: (807) 228-3531
E: johnf@sankamap.com

The Canadian Securities Exchange has not approved nor disapproved this press release.

Forward-Looking Statements

Certain statements made and information contained herein may constitute ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to Sankamap and there is no assurance that the actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as ‘anticipates,’ ‘believes,’ ‘targets,’ ‘estimates,’ ‘plans,’ ‘expects,’ ‘may,’ ‘will,’ ‘could’ or ‘would.’

This press release contains forward-looking statements, including, but not limited to, statements regarding management’s expectations about obtaining the MCTO and completing the Required Filings within the anticipated timeline. Forward-looking statements are subject to various risks, uncertainties, and other factors that could cause actual results or events to differ materially from those expressed or implied by such statements. Sankamap does not undertake any obligation to update forward-looking statements or information, except as required by applicable securities laws. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279270

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

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Politics

Congress fails to save Obamacare subsidies after shutdown fight, premiums set to surge

Politics 4 Mins Read

Lawmakers fought over Obamacare subsidies tooth and nail for the latter part of the year, and ultimately, neither side won.

Senate Democrats thrust the government into the longest shutdown in history in an effort to refocus the narrative in Congress on healthcare, and Republicans agreed to talk about it in the open. And both Republicans and Democrats got a shot to advance their own, partisan plans. Both failed.

Now, the subsidies are set to expire on Wednesday, sending price hikes across the desks of tens of millions of Americans that relied on the credits. 

When lawmakers return on the first week of January, healthcare will be front of mind for many in the Senate. But any push to either revive, or completely replace, the subsidies may, for a time, take a backseat to the government funding fight brewing ahead of the Jan. 30 deadline.

When asked if he was disappointed that lawmakers were unable to, at least in the short term, solve the subsidies issue, Sen. Josh Hawley, R-Mo., was more concerned about people that would experience higher costs. 

‘I think who it’s most disappointing for are the people whose premiums are going to go up by two, three times,’ Hawley said. ‘So, it’s not good.’

Price hikes on premium costs will be variable for the roughly 20 million Americans that rely on them, depending on age, income and other factors. Broadly, a person’s out-of-pocket cost is expected to double with the credit’s lapse, according to the Kaiser Family Foundation.

The nonpartisan healthcare think tank painted a broader picture of the disparate impact on premium cost increases in a report released late last month that, based on myriad factors, including where a person lives, their age range and where they sit above the poverty line, some could see price hikes as high as 361%.

While Senate Republicans’ and Democrats’ separate plans failed to advance — despite four Republicans crossing the aisle to support Senate Minority Leader Chuck Schumer’s, D-N.Y., plan — lawmakers are working together for a solution.

There are two plans with traction in the House. The GOP’s plan advanced on the floor earlier this month but doesn’t address the issue of the expiring tax credits. Then there is a bipartisan plan that calls for a three-year extension of the subsidies, similar to Senate Democrats’ plan, that is teed up for a vote.

The latter option, and its bipartisan momentum, has some Democrats hopeful that a three-year extension could get a shot in the upper chamber.

‘I’ll also say that the glimmer of hope is if we’re searching for a bipartisan deal that can pass the Congress, we don’t need to search any further than the three-year extension of the subsidies that’s going to pass the House of Representatives,’ Sen. Brian Schatz, D-Hawaii, told Fox News Digital. ‘We don’t need a negotiation any further. That bill can pass, if it can provide relief to the taxpayers, and it can pass, then that’s our vehicle.’

Senate Majority Leader John Thune, R-S.D., however, has maintained a deeply-rooted position against just a simple extension of the credits.

He argued that a straight-up extension for three years would be ‘a waste of $83 billion,’ and lacks any of the reforms that Republicans desire, like reinstalling an income cap, adding anti-fraud measures, and reaffirming language that would prevent taxpayer dollars from funding abortions.

‘I mean, I think if nothing else, depending on if the House sends something over here, there would be a new vehicle available,’ Thune said. ‘And if there is some bipartisan agreement on a plan, then you know, it’s possible that we could — obviously it’d have to be something that we think the House could pass, and the president would sign.’

‘But I’m not ruling anything out, I guess is what I’m saying,’ he continued. ‘But you know, a three-year extension of a failed program that’s rife with fraud, waste and abuse is not happening.’

Senate Democrats are open to negotiating on a bipartisan plan, something that is already ongoing after Sens. Susan Collins, R-Maine, and Bernie Moreno, R-Ohio, held a meeting with lawmakers before leaving Washington, D.C., earlier this month.

But Democrats are also making clear that they don’t want to budge on some of the Republicans’ demands.

‘Let’s put it this way, Republicans are asking to meet with me, and I’m telling them, I’ll listen, you know, I made it clear what I think is the only practical approach, and I’m certainly not going to go along with selling junk insurance,’ Sen. Ron Wyden, D-Ore., said.

This post appeared first on FOX NEWS

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